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More than 7,100 student loan borrowers will receive $3.5 million in refund checks after a consumer protection agency said they were scammed by a student debt relief company in renegotiating ...
1. Student loan scammers may require you to pay up-front or monthly fees for help. If a supposed student relief company requires a fee before they actually do anything, that’s a huge red flag ...
Since last year, the Federal Trade Commission (FTC) has received more than 4,000 complaints related to student loan debt relief scams. The number of complaints spiked last October when the loan ...
Research shows that access to student loans increases credit-constrained students' degree completion, later-life earnings, and student loan repayment while having no impact on overall debt. [3] Student loan debt has proliferated since 2006, totaling $1.73 trillion by July 2021. In 2019, students who borrowed to complete a bachelor's degree had ...
The agency has also stressed that there is no fee to apply for student debt forgiveness. Since the student loan announcement in August and Biden's October push to clamp down on fraud, the Federal ...
Educational Credit Management Corporation ( ECMC) is a United States nonprofit corporation based in Minnesota. Since 1994, ECMC has operated in the areas of student loan bankruptcy management and loan collection. ECMC is one of a number of guaranty agencies that oversee student loans for the United States Department of Education.
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